Tech in Africa
Inspired Evolution is an investment management business with a dedicated team with a proven track record of clean energy infrastructure across Africa. Through its Evolution II fund, the investment advisory firm has partnered with co-investors Sagemcom (a French-based technology solutions company specialized in audio-video, energy, and telecommunications) and the Norfund (Norwegian government-private equity firm) to launch energy services company ESCOTEL in a $35 million equity investment mobilization deal.
Of the amount, Evolution II has committed $20 million, Norfund $10 million, and Sagemcom Energy & Telecom $5 million. The latter company will act as the equipment supplier, EPC contractor, and O&M provider.
ESCOTEL is headquartered in Mauritius and provides energy services to mobile tower operators and those owning and operating renewable energy infrastructure. ESCOTEL will supply, install, operate, and maintain decentralized solar storage and hybrid power systems across Liberia, Sierra Leone, the DRC over time.
ESCOTEL has also secured investment from the Multilateral Investment Guarantee Agency (MIGA), a World Bank division. MIGA will share the cover with the Private Sector Window of the International Development Association. The insurance covers civil disturbance, war, transfer restrictions, inconvertibility, and expropriation for a decade.
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